To The Moon

Wednesday's trading session was somehow different, as the strong mega caps that were outperforming for most of last month suffered losses while the others played catch up.

Mega caps suffered a loss on Wednesday, stocks like Amazon.com (AMZN 121.23, -5.38, -4.3%), Alphabet (GOOG 122.94, -4.97, -3.9%), Microsoft (MSFT 323.38, -10.30, -3.1%), and NVIDIA (NVDA 374.81, -11.68, -3.0%) all saw large declines today, falling prone to profit taking after a big run and to some valuation angst. Apple (AAPL 177.82, -1.39, -0.8%) also logged a loss for the session. 

This resulted in the weighted S&P 500 to lose 0.38% on Wednesday. On the other hand, the equal weighted S&P 500 actually gained 0.74%, showing broader market relative strength.

S&P 500 loss 0.38%

Equal weight S&P 500 gained 0.74%

Russell 2000 gained 1.59%

The outstanding performer was the Russell 2000 ETF gaining 1.59%, boosted by energy and regional bank components. The SPDR S&P Regional Banking ETF (KRE) rose 3.3%. The S&P 500 energy sector (+2.7%) led its peers by a wide margin.

Other top performers included the cyclical materials (+1.2%) and industrials (+1.6%) sectors.

Lagging mega cap components weighed down the communication services (-1.9%), information technology (-1.6%), and consumer discretionary (-0.9%) sectors.

Energy & Real Estate outperformed on Wednesday 

 Is this the change in market breath, as mid caps and small caps finally play catch up with the leading mega caps, to allow the market to become "healthy" again?

@TigerStars 

$Amazon.com(AMZN)$ 

$Alphabet(GOOG)$ 

$Microsoft(MSFT)$